New faces... a bit of backstory -> I was burned out in finance, working on someone else's schedule, tired of having my time tied to money.
So I started investing in cash-flowing biz's.
Not sexy startups, but boring, everyday businesses.
So I started investing in cash-flowing biz's.
Not sexy startups, but boring, everyday businesses.
One of my fav businesses early, easy to startup not a ton of capital biz's = laundromats
They are often overlooked for the returns you can get
One of mine netted $67k a year after I bought it for $100k
They are often overlooked for the returns you can get
One of mine netted $67k a year after I bought it for $100k
I asked myself:
How could I work when I want, where I want and on what I want?
Problem:
I'm not smart enough to create the next Tesla, Bitcoin, FB, etc.
How could I work when I want, where I want and on what I want?
Problem:
I'm not smart enough to create the next Tesla, Bitcoin, FB, etc.
But I can model like a MF'er and I'm pretty good at DD
Solution: Maybe I should just buy a boring cash-flowing biz?
Now I own 7 that I'm active in and many more that I passively invest in.
Now I ask myself: how do I get more people in the ownership/acquirer seat?
Solution: Maybe I should just buy a boring cash-flowing biz?
Now I own 7 that I'm active in and many more that I passively invest in.
Now I ask myself: how do I get more people in the ownership/acquirer seat?
Solution:
We figured out that one of the simplest and easiest places to start buying businesses is in laundromats. Why?
1) Simple - customers do the majority of the work
2) Little labor - means training, on-boarding, and labor is relatively minimal
We figured out that one of the simplest and easiest places to start buying businesses is in laundromats. Why?
1) Simple - customers do the majority of the work
2) Little labor - means training, on-boarding, and labor is relatively minimal
3) Upfront cash - customers pay upfront, makes accounting easier
4) Recession resistant - people always need clean clothes
5) Good ROI - laundry industry has a 20-35% ROI and nearly a 95% success rate, according to Speed Queen (eek, not sure on 95% but maybe directionally).
4) Recession resistant - people always need clean clothes
5) Good ROI - laundry industry has a 20-35% ROI and nearly a 95% success rate, according to Speed Queen (eek, not sure on 95% but maybe directionally).
5) Inventory - Unlike a restaurant, convenience store, or grocery store, laundromats have very little physical inventory.
6) No Seasonality - Not seasonal or weather-dependent
7) There's a program and a roadmap to follow. There's a way to do it passively
6) No Seasonality - Not seasonal or weather-dependent
7) There's a program and a roadmap to follow. There's a way to do it passively
Cons:
Who the f*ck grew up wanting to be a laundromat owner or work in one? Not me.
Could we do it passively?
Turns out yes.
Who the f*ck grew up wanting to be a laundromat owner or work in one? Not me.
Could we do it passively?
Turns out yes.
If you liked this breakdown, you'll love my newsletter
I break down a new boring, cash-flowing business model every week.
And I got a bunch on the good ole wash and fold's.
Sign up here: getrevue.co/profile/codie_…
I break down a new boring, cash-flowing business model every week.
And I got a bunch on the good ole wash and fold's.
Sign up here: getrevue.co/profile/codie_…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
